Fed's Schmid: inflation is too hot, policy is where it should be

Fed's Schmid: inflation is too hot, policy is where it should be

From kitco.com

Kansas City Federal Reserve President Jeffrey Schmid on Friday said his concerns about "too hot" inflation go well beyond the narrow effects of tariffs alone, in fresh remarks that signaled he could dissent again at the Fed's December meeting should policymakers opt to cut short-term borrowing costs again. Schmid was one of two dissenters on the Fed's October decision to lower the policy rate by a quarter of a percentage point to the 3.75%-4.00% range. On Friday he reiterated that he feels the cooling seen in the U.S. job market is due to structural changes not amenable to support from lower interest rates, and his ... (full story)

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